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BSP Re-launches EFLC in Cagayan de Oro, Conducts Learning Activities in Misamis Oriental


The Economic and Financial Learning Center (EFLC) of the Bangko Sentral ng Pilipinas (BSP) in its Cagayan de Oro Branch Office will be re-launched on 4 September 2012 at 9:00 a.m. The program will include the unveiling of the EFLC-Cagayan de Oro signage, followed by the blessing of the EFLC premises.   During the same event, the fifth leg of the BSP Economic and Financial Learning Program (BSP-EFLP) for 2012 will be formally opened in Misamis Oriental.  Governor Amando M. Tetangco, Jr. will host the event which will be attended by representatives from the Misamis Oriental banking, business and academic communities, officials from other government agencies as well as members of the media.

Already in operation since 2008, the EFLC-Cagayan de Oro has expanded its scope and services by upgrading its facilities and linking with the EFLC national network to ensure that all electronic resources in the EFLC in Manila are also available to the public in Cagayan de Oro.  Thus,  economic and financial learning will be made available to the people of Misamis Oriental not only through more conventional media like books and periodicals, but also through technology-based interactive learning modules, informative video clips and even educational computer games.  Researchers will also be able to browse the digitized library collection, as well as the statistical database for information on economic issues that are of interest to them.  The re-launching of EFLC-Cagayan de Oro is in line with the BSP’s master plan to set up EFLCs in the BSP’s main office in Manila and in its 21 regional offices and branches nationwide.

The BSP-EFLP consolidates the educational outreach activities of the BSP under one flagship program.  It consists of a series of learning sessions and activities which aim to promote greater public awareness and understanding of essential economic and financial issues. This is expected to help the people make wise financial decisions. The BSP-EFLP also embodies the goal of the BSP to promote economic and financial education among its stakeholders, who can then become its more effective partners in maintaining stable prices as well as in ensuring a stronger and safer banking and payments system.

Specifically, the following component programs of the BSP-EFLP will be conducted at the Grand Caprice Restaurant and Convention Center in Cagayan de Oro City:

  • “Be up to SPeed on BSP,” Information Campaign on the Role of the BSP in the Economy, 4 September, 12:30 to 5:00 p.m.; and
  • “Paghahanda sa Kinabukasan” Financial Learning Campaign for Overseas Filipinos and their Beneficiaries (FLC-OF), 5 September 2012, 8:30 a.m. to 3:00 p.m.

“Be up to SPeed on BSP”  will cover topics on recent economic developments and the role of the BSP in the economy, with particular emphasis on the three pillars of central banking, i.e., price stability, financial stability and efficient payments and settlements system.  The New Generation Philippine Currency is also discussed in one of the sessions. The target audience of the PIC is broad-based as it includes representatives from various sectors, including students, faculty and other members of the academe, businesses, government agencies, and members of the media. 

“Paghahanda sa Kinabukasan,” organized in coordination with the Overseas Workers Welfare Administration (OWWA),  aims to educate participants on the importance of using remittances to build up savings and directing these into investments in financial products and business ventures. Through this learning advocacy, the BSP hopes to help overseas Filipinos and their beneficiaries achieve financial independence and security, bring them into the fold of the formal financial system, and enable them to participate more meaningfully in the country’s economic development.  Officials from the BSP, as well as from the Department of Trade and Industry (DTI) and the Department of Agriculture (DA), have been invited to give lectures on topics such as the importance of remittances, financial planning, investment/business options and agri-business opportunities.

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